Here's some information about the referent "King Alfa" "

"King Alfa" is a referent for His Imperial Majesty [HIS] Haile Selassie I [Rastafarians always pronounce the "I" here as "eye", menaing the letter "i]. "Alfa"="Alpha" meaning the first as in the Latin words "alpha and omega". See this excerpt from http://en.wikipedia.org/wiki/Rivers_of_Babylon

"King Alpha is referred to in the line "How can we sing King Alpha's song in a strange land?". King Alpha refers to Haile Selassie. Selassie's wife Menen Asfaw is known as Queen Omega aka The Queen. [2] When Jewish groups sing the song, "King Alpha" is changed to "the Lord's" or "Adonai's"."
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Given Boney M's substitution of "The Lord's" for "King Alpha", and assuming that that group is not Jewish [and there are Black Jews, btw], the Wikipedia page should say that "When Jewish and Christian group sing the song, they may change "King Alpha"to "The Lord's."

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Also, here's some information about the phrase "over I":

"Over I" is a Rastafarian language construct that means "over me". As a rule, most Rastafarians don't use the words "me", "we", "our", "us". Instead of "we" , "our", and "us" they use the phrase "I and I" [which is written "InI"] That phrase "I and I" is found in some of Bob Marley's songs.

See this excerpt from http://en.wikipedia.org/wiki/Rastafarian_vocabulary

• I replaces "me", which is much more commonly used in Jamaican English than in the more conventional forms. Me is felt to turn the person into an object whereas I emphasises the subjectivity of an individual.

•I and I is a complex term, referring to the oneness of Jah (God) and every human. Rastafarian scholar E. E. Cashmore: "I and I is an expression to totalize the concept of oneness, the oneness of two persons. So God is within all of us and we're one people in fact. I and I means that God is in all men. The bond of Ras Tafari is the bond of God, of man. But man itself needs a head and the head of man is His Imperial Majesty Haile Selassie I (always pronounced as the letter "I," never as the number one or "the first") of Ethiopia." The term is often used in place of "you and I" or "we" among Rastafarians, implying that both persons are united under the love of Jah.

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Here's some more information about the Rastafarian religion/way of life:

The name Rastafarian comes from "Ras Tafari".

"Haile Selassie I was born Lij Tafari Makonnen (Ge'ez ልጅ፡ ተፈሪ፡ መኮንን; Amharic pronunciation lij teferî mekônnin). "Lij" translates literally to "child", and serves to indicate that a youth is of noble blood. He would later become Ras Tafari Mekonnen; "Ras" translates literally to "head"[10] and is the equivalent of "duke",[11] though it is often rendered in translation as "prince". In 1928, he was elevated to Negus, "King"."
http://en.wikipedia.org/wiki/Haile_Selassie_I_of_Ethiopia…

[This is a very well researched wikipedia page on Haile Selassie. In my opinion, it's well worth reading for those people interested in the Ethiopian, Rastafarian, and Jamaican history & culture]

"Ras" is usually translated "prince" among Rastafarians and other Jamaicans. "Tafari" ["Tefari"] is an Amharic language male name that means "awe-inspiring".

Rastafarians are commonly called-and call themselves-"Rastas", and a number of Rastafarians use that title with their first name. Reggae singers who have "prince" in front of their name may be following that tradition and/or mixing that tradition with the use of royalty titles common in a lot of Black folk music such as Calypso and Blues.

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Haile Selassie's name literally means "Power of the Trinity".

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"Jah" is the Rastafarian referent for "God". "Jah" comes from the Hebrew name for God "Yahweh".